Check Management

About China Bank


Celebrating the past.
Embracing the future.

China Bank marks its centennial by continuously serving and supporting its stakeholders amid the COVID-19 pandemic and putting the safety and well-being of its employees and customers on top of its COVID-19 response. The Bank accelerates its digital transformation, launching new mobile app features and strengthening its cybersecurity to encourage customers to safely bank from home. Despite the economic slowdown, the Bank hits P1 trillion in assets and P100 billion in capital. To celebrate its 100th anniversary, China Bank approves a stock grant for employees—100 China Bank shares for every year of service, launches its "Get the Miles, Enjoy the SM-iles" deposit promo and its centennial TV commercial, and unveils the restored façade of its original head office in Binondo.

China Bank raises P30 billion through its maiden issue of fixed-rate retail bonds, one of the largest bond offerings in 2019. Restoration of the Bank's original head office in Binondo begins, for completion in August 2020, China Bank's 100th anniversary. The Bank expands its credit card offerings with the launch of China Bank Cash Rewards Mastercard and China Bank Freedom Mastercard and adopts the National QR Code standard for instant and seamless fund transfers. China Bank continues to champion good corporate governance, receiving the Four-Arrow Recognition for Good Governance from the Institute of Corporate Directors and the Best Corporate Governance Disclosure and Transparency award from the Bangko Sentral ng Pilipinas.

China Bank lists P10.25 billion worth of LTNCDs, signs a USD150 million Green Bond agreement with International Finance Corporation (IFC).  It continues to be one of the best-rated companies, receiving an issuer rating of PRS Aaa (corp.) from PhilRatings, an affirmation  from Moody’s (Baa2) and from Fitch Ratings (BB+), and an upgrade from Capital Intelligence (BBB).  It launches China Bank Mobile Banking App offering many firsts: AutoSweep RFID Loading, InstaPay transfer in real time, location map for ATMs with availability indication, JUMP–1st mobile banking app to allow transfer via receiver’s cellphone number.  The ASEAN Capital Markets Forum names China Bank as one of the Top 50 Publicly listed companies in ASEAN and Top 3 in the Philippines at the ASEAN Corporate Governance Awards.  The Bank also receives various awards from the Bangko Sentral ng Pilipinas, Corporate Governance Asia, Global Banking & Finance, The Asset, and Alpha Southeast Asia.

China Bank returns to the capital markets with another oversubscribed P15-billion stock rights offering to bolster capital strength and sustain growth momentum, complemented by a rationalization of the liability of the funding mix with the issuance of P15.9-billion LTNCDs. Moody’s Investor Service upgrades China Bank’s credit rating to Investment Grade ‘Baa2’. The Philippine Stock Exchange confers a special citation to China Bank for being among the top 5 best publicly-listed companies in corporate governance for six straight years, while the Global Banking & Finance Review names it Best Bank for Corporate Governance Philippines 2017 and Best Investor Relations Bank Philippines 2017.

China Bank wins the Bell Award for Corporate Governance for an unprecedented fifth year in a row. It is also named “Banking & Finance firm of the Year” by UK-based magazine Finance Monthly. Fitch Ratings upgrades the bank’s Long Term Issuer Default Rating to ‘BB+’ and its Viability Ratings to ‘bb+’ with Stable outlook, and later affirms these ratings. Aiming to support various revenue streams, China Bank infuses an additional P2-billion capital to its thrift banking arm China Bank Savings. Its investment banking house, China Bank Capital, buys a stock brokerage house and puts up a special company for securitization deals. China Bank also began issuing up to P20-billion LTNCDs to support its strategic initiatives and business expansion. China Bank is one of the first banks to convert all ATM cards to the new EMV standard, and to unveil a new ATM user experience where the machines mimic a smartphone’s interface. It also upgraded its personal banking portal to allow customers to transact in a faster and easier way.

The Bangko Sentral ng Pilipinas (BSP) approves China Bank’s plan to establish an investment house subsidiary, China Bank Capital Corporation (China Bank Capital).  China Bank inaugurates China Bank Corporate Center, a PEZA-accredited 18-story BPO tower in Cebu Business Park and rolls out Finacle Core Banking Solution (FCBS) from Infosys to support the Bank’s expanding operations and drive customer loyalty, growth, and innovation.

China Bank acquires the country’s leading bank for small and medium enterprises, Planters Development Bank, to be merged with China Bank Savings (the surviving bank). China Bank also successfully raises P8 billion from its stock rights offering, issuing 161,609,878 shares at P49.50 per share, and increases its ownership stake from 5% to 40% in Manulife China Bank Life Assurance Corp. (MCBLife), its bancassurance joint venture with Manulife Philippines. Ricardo R. Chua succeeds Peter S. Dee as the new president & chief executive officer on September 1, 2014. China Bank wins a Bell Award for Corporate Governance for the third year in a row—the only bank among the awardees and one of only two companies to have won three times—and wins Corporate Governance Asia’s Outstanding Company on Corporate Governance Award.

China Bank teams up with global financial services giant MasterCard to launch China Bank MasterCard World, Platinum, and Classic in 2015. The Bank also strengthens its operations with a new wealth management system developed by Sopra Banking Software, a leading software and IT services company based in France; a leading-edge ATM/payment switch and Authentic from Alaric, a UK-based provider of payment and enterprise fraud detection systems; and The China Bank App that makes it convenient and secure to do banking transactions using an Apple iPhone, iPad, iPod or iTouch. China Bank also wins a Bell Award for Corporate Governance for the second consecutive year.

China Bank acquires a new core banking system—the more powerful Infosys Finacle Solution. The Bank also acquires Pampanga-based Rural Bank Unity Bank to be merged with its thrift bank subsidiary China Bank Savings (CBS) in 2013.

China Bank is awarded Best Wealth Management House in the Philippines by The Asset Magazine and receives for the second time the Gold Award in Corporate Governance from the Institute of Corporate Directors (ICD).
Hans T. Sy becomes chairman of China Bank.

China Bank celebrates ninety years of banking and gets included in the 30-stock PSE index (PSEi) starting May 12. The Bank also wins the Silver Award on Corporate Governance from the Institute of Corporate Directors (ICD), and is again recognized by the Bureau of Treasury as one of the "Top Ten Best Performing Government Securities Eligible Dealers (GSED) in the Primary Market for 2010."

Stern Stewart & Co., a leading worldwide management consulting firm based in New York, cites China Bank as one of the top 100 listed companies throughout Southeast Asia in terms of delivering shareholder value for the period 2002-2008. China Bank is one of only 11 Philippine companies and one of two Philippine banks to be included in the ASEAN 100 Relative Wealth Added Index.
China Bank Cebu Business Center opens, the Bank's 14th branch in Cebu and its main business hub in the region.

China Bank offers its maiden issue of fixed rate long-term negotiable certificates of deposit (LTNCDs). From an initial amount of P3 billion, the floatation was upsized to the BSP-approved amount of P5 billion due to overwhelming response. On September 8, 2008, China Bank's savings bank subsidiary formally opens its doors to the public as China Bank Savings, Inc. (China Bank Savings).

China Bank embarks on new ventures: signs a Bancassurance joint venture agreement with Manulife and acquires Manila Bank. The bank also launches a raffle promo dubbed “P8.7 million at 87.”

China Bank completes its first international US$53 M secondary share offering. The Bank starts a rapid branch expansion.
China Bank wins “Best Website – Banking and Finance” at The Philippine Webby Awards

The Bank launches China Bank On-time Remittance and China Bank Online. To celebrate its 85th anniversary, it gives away a total of P8.5 million in prizes for its "Grateful at 85" deposit and loan raffle promo.
China Bank becomes an Annual National Consumer Awardee for Outstanding Commercial Bank, given by Parangal ng Bayan. The Bank also receives a National Consumer Quality Award and Global Excellence Award for the same distinction.

China Bank launches its Cash Management Services for businesses and corporate clients; Henry Sy Sr. becomes honorary chairman.

China Bank hits the P100 billion mark in total resources.

To celebrate the Bank's 80th anniversary, China Bank donates P1 million to Tabang Mindanaw to help the victims of armed conflict in Mindanao.

China Bank automates its treasury operations with the Flexcube System. Its subsidiary China Bank Insurance Brokers, Inc. starts operations.

China Bank accesses offshore capital markets for the first time by issuing US$50 M Floating Rate Certificate of Deposit (FRCD). The Bank also launches China Check Plus, an interest-earning current account.

China Bank celebrates its diamond anniversary and raises its authorized capital to P2.54 billion.

China Bank launches two consumer loan products: China Bank HomePlus and China Bank AutoPlus.

China Bank acquires its universal bank license.

China Bank joins seven other banks to create BancNet, the country's largest ATM network. To strengthen its position among the major players in the banking industry, the Bank transfers its corporate headquarters to its present location along Paseo de Roxas in Makati City.

China Bank upgrades its on-line system and launches TellerCard, its ATM banking service. The same year, it launches TellerPhone, the first telephone banking in the Philippines.

On December 24, 1980, Bank chairman Dee K. Chiong passes away due to a heart attack. The next generation of leadership, Gilbert and Peter Dee, begin to take over the reins.

On May 2, 1978, Albino SyCip, ninety-one, passes away due to pneumonia. His successor as chairman, George Dee Se Kiat, passes away the following year.

The Bank increases its Filipino ownership up to the 70% level required by Central Bank regulations. This paves the way for the Bank’s major branch expansion program.

China Bank is still the biggest local private commercial bank, with P565.997 M in resources. It has 4.1% of the assets in the commercial banking system.

China Bank becomes the first bank in Southeast Asia to process deposits on-line, using the IBM 360.

China Bank has P287.446 M in resources and P207.933 M in deposits. It has a profit of P7.144 M on gross income of P24.663 M.

China Bank is still the biggest local private commercial bank. It has 7.2% of all the assets in the commercial banking system, with P174.417 M in resources.

China Bank breaches the P100 M mark for the first time, with P109.597 M in resources and P70.292 M in deposits. It is the biggest local private commercial bank.

Dong Pao Loh becomes manager of the Bank’s Cebu branch. DP Loh becomes an institution in Cebu business, becoming friend and banker to many local tycoons.

Albino, who is now sixty-four, gives up the China Bank presidency to George Dee Se Kiat, but remains chairman and general manager. Dee K. Chiong becomes senior vice-president.

China Bank has lent heavily to build the local economy, extending P182.84 M to various reconstruction efforts and economically strategic sectors. China Bank opens its first Cebu Branch.

On July 23, 1945, Albino SyCip and around forty of the Bank’s old employees reopen China Bank. Albino is president and general manager; George Dee Se Kiat is vice-president.

In April, 1942, the Japanese military shuts down China Bank and liquidates its assets. Albino SyCip and George Dee Se Kiat are arrested and spent months in jail.

On December 8, 1941, the Pacific War begins with the bombing of Pearl Harbor. On December 21, the Philippines is invaded.

China Bank has P21.537 M in resources and is by now one of the country’s biggest banks. It provides key financing for many of the country’s biggest businesses.

The Great Depression hits the Philippine banking sector; hit by runs, a rival bank goes under, but China Bank weathers the crisis unshaken.

The Bank opens a branch in Shanghai.

China Bank is listed on the local stock exchange.

From the beginning, it maintains an international perspective. China Bank opens its Xiamen branch.

Albino SyCip joins China Bank on a full-time basis and will be its chairman for decades; over the next 53 years, he will define and exemplify its distinctive values.

Dee C. Chuan leads a group of top Chinese-Filipino businessmen to establish China Bank, the first privately-owned commercial bank in the Philippines. The Bank opens for business on August 16, 1920 at No. 90 Rosario St., Binondo, Manila.

© 2006 China Banking Corporation. All rights reserved